Teleconference gears investors to success in Vietnam

Update: 16:45 | 08/09/2020
A teleconference, themed “Vietnam – Rising Star”, was held in Ha Noi on September 7 with an aim to improving the efficiency of doing business in Vietnam.
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teleconference gears investors to success in vietnam
Minister of Planning and Investment Nguyen Chi Dung at the event. (Photo: Bao Hai quan)

Co-organized by the Ministry of Planning and Investment, the State Bank of Vietnam and Standard Chartered Bank, the event was also expected to share new investment trends, measures to improve the business environment in the country.

Speaking at the event, Minister of Planning and Investment Nguyen Chi Dung said with existing competitive edges, reform in the investment environment, active and effective COVID-19 prevention and control, Vietnam has become an attractive and safe destination for foreign investors.

He wished that Standard Chartered would enhance linkage with investors, draw more multinational groups to Vietnam, as well as build innovation and international financial centers in the country.

Governor of the State Bank Le Minh Hung said since the beginning of this year, the bank has cut operating rates twice to fuel credit growth, reduced deposit and lending rates in priority areas to make it easier for borrowers to access lower-cost capital.

CEO of Standard Chartered Vietnam and five ASEAN and South Asia Cluster Markets Nirukt Sapru said many multinational groups set up business operations in Vietnam to tap close proximity and connectivity with the bloc.

With a young, dynamic and technologically-literate population together with a growing middle class and an open economy, Vietnam continues to offer attractive business opportunities, he said.

In order to welcome a shift of investment in the win-win principle, Minister Dung said Vietnam is hastening preparations for the land base and key production infrastructures, workforce training and development support industry by building special incentives for major and quality projects.

The Prime Minister also established a working group in charge of promoting foreign investment, improving the business environment and national competitiveness, with priority given to projects using advanced and eco-friendly technology, offering high added values and modern governance.

Amid the complicated developments of COVID-19, the State Bank of Vietnam will continue forecasting and updating scenarios to support growth while ensuring macro-economic stability and creating a healthy and transparent business environment for investors, he said.

Following the event, the MPI will continue partnering with the Standard Chartered to update enterprises on Vietnam’s legal regulations and investment procedures.

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(Source: VNA)